Income Tax Calendar May 2025: The month of May is currently at the tip of the calendar. Notable Taxpayers, employers and other financial institutions have marked it on their calendars for a reason. They know how important the deadline of last date of several income tax work is going to be dealing with. Failure to comply may result in some serious consequences. All identified tasks and deadlines are explained.

Last date for payment of TDS or TCS for the month is May 7. Employers and other deductors must pay it into the government account before the expiry of the time limit. After the deadline, 1.5% interest will be charged per month. Apart from this, this is a last chance to upload Form 27C declarations till this day. There is a lot of sellers business useful work.

Payment submission of the first two mentioned items must not be later than the fifteenth of May

This is the end date of providing TDS certificates for the March deductions under the sections 194-IA, 195M and 194S.

May 15 is also the end date of government offices forwarding Form 24G.

The primary and secondary stock exchanges or the recognized self regulated organizations will have to submit the report of April’s transactions using amended Form 3BB.The collector needs to be provided with quarterly TCS statements for the January to March quarter.

Breaking promises and procrastination, for these tasks, let’s call them “making completing in May–We will tackle these ‘getting it done’ in May.”

The cutoff date for submitting the challan cum statement for April TDS @ 194-IA, 194B, 195M and 194S is May 30, 2025.

The boundary for detail submission under Section 285B for FY 2025 is set for May 30. By this date, TCS certification for the fourth quarter of FY 2025 must be issued.

Submission deadline for quarterly TCS statement for January to March quarter for other deductors and employers is May 31.

Form 61A and Form 61B submission deadline for financial institutions is also May 31, 2025.

Trustees of superannuation funds are permitted to file a return of tax deducted on employee contributions by June 31.

Read More: Income Tax Calendar May 2025: Important Deadlines for Taxpayers and Employers